Ladner Brothers (Philadelphia, PA)

Episode Information

Episode UID
4893853691016
Episode Type
Suspension β†’ Closure
Bank Type
private
Bank ID
489385369 hash
Start Date
August 25, 1884
Location
Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
6364be3de9b2cb7f

Response Measures

None

Description

Firm made an assignment and criminal embezzlement warrants followed, indicating failure rather than a temporary suspension.

Events (3)
1. August 25, 1884 Receivership
Newspaper Excerpt
Ladner Bros., bankers ... made an assignment to William F. Harrity to-day.
Source
newspapers
2. August 25, 1884 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Firm made an assignment amid insolvency allegations and subsequent charges of embezzlement against the partners.
Newspaper Excerpt
Ladner Brothers, bankers ... made an assignment to William F. Harrity to-day.
Source
newspapers
3. August 28, 1884 Other
Newspaper Excerpt
Several more warrants were issued ... charging them with the embezzlement of funds entrusted to them.
Source
newspapers

Newspaper Articles (14)
1. August 26, 1884 Savannah Morning News Savannah, GA
Article from Savannah Morning News, August 26, 1884

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NOT A PENNY IN THE SAFE WARNER MAKES A CLEAN SWEEP OF ALBION'S BANK. Application Made for the Appointment of a Receiver-A Statement of Hatch & Foote's Affairs Made Public At Last-A Philadelphia Bank Goes to the Wall. NEW YORK, Aug. 25.-Schedules in assignment of Hatch & Foote were filed Aug. 8, but they were to-day made public for the first time. They state the total lia. bilities at $4.497,315, of which debts to the amount of $3,548,900 are secured. The nominal assets $1,132,299, and the actual assets $298,871. Included in the liabilities are cash deposits in various amounts, principally in sums less than $50,000, to the amount or $465,000. THE ALBION CBOOKEDNESS. ROCHESTER, N. Y., Aug. 25.-The Union and Advertiser to-day publishes a schedule of the Burrows estate at Albion as it existed in 1879, before Mr. Burrows' death. It says that the estate was worth $1,750,000 at the lowest estimate of real estate. The bank safe was opened to-day. The bank examiner refuses to make any statement, but it is learned that the surety box was empty. Eliza Glen has begun suit in the Supreme Court for the appointment of a receiver for the bank. A petition has been in circulation in the village, which was numerously signed, asking for the appointment of Hon. J. G. Sawyer, ex-county Judge of Orleans county, as receiver of the bank. Mrs. Eliza Glenn has begun an action against Louis C. and Wm. R. Burrows, each individaaby, as surviving executors of the will of Roswell Burrows, deceased, upon a note for $2,150, given by Warner as executor of the estate. She also asks for the appointment of a receiver pending a final determination of the action. Bank Examiner Williams is still at work in the bank with closed doors, and refuses to enlighten depositors as to its affairs. It is believed that as the examination proceeds the outlook for the depositors becomes disheartening, and all there appears to be left of the great Burrows estate is some land in the West and Southwest, the value of which is indefinite and can hardly be est dated. The District Attorney of Originals county states that no warrant Iras been issued for Warner's arrest, and he shall issue none until officially notified of Warner's crimmality or embezzlement by the proper authority. RICHMOND BONDS DISPOSED OF. NEW YORK, Aug. 25.-An Albion, New York, special says it has been discovered that $60,000 in bonds of the First National Bank of Richmond, Va. have been disposed of by Mr. Warner for his private purposes. PHILADELPHIA BANKERS ASSIGN. PHILADELPHIA, Aug. 26.-Ladner Bros., bankers doing business at No. 30 South Third street in this city, made an assignment to William F. Harrity to-day. The assignment is made by the firm and individual members without preferences. The liabilities are estimated at $15,000. The assets are unknown. The firm was composed of Wm. T. Ladner and Louis J. Ladner, and they have been in business for many years. Their transactions were mainly with Germans. The liabilities are $150,000, are unsecured, and there are other deots, but they are secured by collateral. The exact amount of these could not be learned. The assets are composed of real estate in Philadelphia and Atlantic City, New Jersey. BLANEY BROS.' FAILURE. BOSTON, Aug. 25.-The liabilities of Blaney Bros., manufacturers of morocco at Lynn, who failed last Friday, are between $75,000 and $100,000. It is'expected that the firm will pay 50 cents on the dollar.

2. August 26, 1884 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, August 26, 1884

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Article Text

Philadelphia Bankers Suspend. PHILADELPHIA, Aug. 25.-Ladner Brothers, bankers, doing business at No. 30. South Third street, this city, made an assignment to Wm. F. Harrity to-day. The assignment was made by the firm and individual members without making any preferences. The liabilities are estimated at $150,000; assets unknown.

3. August 28, 1884 Lancaster Daily Intelligencer Lancaster, PA
Article from Lancaster Daily Intelligencer, August 28, 1884

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Article Text

More Warrants for Ladner Bros, PHILADELPHIA, Aug. 28.-Several more warrants were issued to day for the arrest of the Ladner Bros, the suspended bankers, charging them with the embezzlement of funds entrusted to them. The Ladners could not be found, Louis, who was in town yesterday, having gone to Atlantic City.

4. August 29, 1884 Savannah Morning News Savannah, GA
Article from Savannah Morning News, August 29, 1884

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Article Text

UPS AND DOWNS OF BUSINESS. Warrants Issued for the Ladner Brothers, but Neither to be Found. PHILADELPHIA, Aug. 28.-Several more warrants were issued to-day for the arrest of Ladner Brothers, the suspended bankers, charging them with the embezzlement of funds entrusted to them. The Ladners could not be found, Louis, who was in town yesterday, having gone to Atlantic, City. AN ADRIAN BANK SUSPENDS. ADRIAN, MICH., Aug. 28.-The Adrian Savings Bank suspended yesterday. Herman Loomis, the cashier, says that the trouble was precipitated by the inability of the bank on Monday to meet a check for $15,000. The party who drew the check spread the news, and something of a run began among the small creditors. About $80,000 IS due depositors, and Mr. Loomis says that the assets of the bank are entirely adequate to pay all the liabilities in full. NO RECEIVER NEEDED AT XENIA. WASHINGTON, Aug. 28.-The acting Comptroller of the Currency this morning received a telegram from bank examiner Ellis, saying that the affairs of the Second National Bank of Xenia, Ohio, are not so bad as has been represented, and that there is reason to believe that it will be able to meet all demands upon it. In view of this report the acting Comptroller says that there does not appear to be any necessity for the appointment of a receiver. ROBERTS' PECULATIONS. WILKESBARRE, PA., Aug. 28.-Later developements to-day make it certain that the amount stolen by Roberts, clerk for Parish & Co., was $100,000. In addition to speculations it has been learned that Roberts has hypothecated bonds and securities at Easton. This evening a deed of assignment of the Roberts property to Charles Parish & Co. was filed in the Recorder's office. The consideration was $1 with his interest in the Red Ash Coal Company. The property assigned by Roberts is worth $80,000. A DEFAULTER'S BOND. CONCORD, N. H., Aug. 28.-In the case of the Ashuelot Savings Bank vs. Ellery Albee et al., the court held that the sureties of the defendant, who was a defaulter, could not escape liability on their bond even though at the time of their signing Albee was already such a defaulter, the fact having been unknown to the directors of the bank. AN OFFER OF 50 PER CENT. BOSTON, MASS., Aug. 28.-Henry Sears at 92 State who last & Co., month No. for street, failed a large amount, today made a definite offer of 50 cents on the dollar, which will probably be accepted.

5. August 29, 1884 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, August 29, 1884

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Article Text

TELEGRAPHIC BREVITIES. At Philadelphia, yesterday, several additional warrants were issued for the arrest of Ladner Bros., suspended bankers, charging embezzlement. The Ladners were not found. Alderman F. C. Dennison, of Toronto, Canada, major of the Governor-general's body-guard, has accepted the command of the expedition of Canada voyaguers to be sent to the relief of Gordon at Khartoum. The eleventh annual meeting of the National Women's Christian Temperance Union will be held in St. Louis, Oct. 23 to 26. It is expected that the States and Territories will be represented by delegates from the local auxiliaries. At the sale of the stock of Halstead, Haines & Co., of New York, yesterday, there was a large attendance of Western and Southern dry goods dealers. The sale of hosiery took place in the early part of the day, and prices averaged about 70 cents on the dollar, which was considered satisfactory. Coroners Levy and Robinson, of New York, had another consultation, yesterday, with Col. Perry, regarding the exhumation of private Henry's body. It was decided that the coroner shall ask Miss Dora Buck to send proof that she is Henry's sister. "Ifshe furnishes the necessary proof," said Coroner Levy, "we will at once proceed with the examination.

6. August 29, 1884 National Republican Washington, DC
Article from National Republican, August 29, 1884

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More Warrants for the Ladners. PHILADELPHIA, Aug. 28.-Several more warrants were issued to-day for the arrest of the Ladner Bros., the suspended bankers. They could not be found, Louis, who was in town yesterday, having gone to Atlantic City,

7. August 29, 1884 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, August 29, 1884

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BRIEF TELEGRAMS. The state Greenback convention of New Hampshire will meet Sept. 5 to nominate a full state ticket. A large salt warehouse of Stemback, Hill & Co., of Nashville, with contents valued at $18,000, burned yesterday. The Democrats of the Fifth Illinois congressional district yesterday nominated Richard Bishop for congress. The Prohibitions of the Seventeenth Ohio congressional district yesterday nominated Dr. McElhanny for congress. The Greenbackers of the Third Ohio congressional district yesterday nominated A. Hudson for congress. The Republicans of the same district nominated Col. James A. Keigwin. DeWolf & Swan, brokers of New York, have brought suit against the absconding stenographer of Lord, Day & Lord to recover $160,000, the amount of purchases made by them for him. Several more warrants were issued yesterday for the arrest of members of the firm of Ladner Bros., the suspended banks of Philadelphia, charging embezzlement. The men were not found. A collision occurred yesterday on the Western Maryland railroad, near Penner, between an express and an excursion train. No one was injured except the express messenger, who was cut in the head. The rate war between trunk lines running from Chicago to New York still continues. All doubt as to the payment of the JerseyCentral dividend, Monday, was settled to-day by the shipment of funds to New York to meet it, A passenger train on the Chespeake & Ohio railroad yesterday ran into the rear of a freight, train, near Richmond, Va., reverely wounding the engineer of the passenger train and killingthe conductor of the freight, Mr. Blaine leaves Bar Harbor fer Bangor and Augusta to-morrow. The trouble between the Brussels Carpe to company, of Philadelphia,: and their weavers have been settled. The cotton manufacturing companies of Lo well, Mass., yesterday decided to stop all cotton mills, except at Lawrence, for two weeks A scow built schooner was seen yesterday floating bottom about twenty-eight miles southwest of Whitehall, Michigan. It is feared the crew were lost. The Democrats of the First Tennessee district, yesterday nominated Col. O. C. King for congress. A small cyclone passed near Huron, Dakota, yesterday. Several residences were destroyed and a child was carried several hundred feet and badly injured. At a meeting of the state central committee of the Peoples party in Boston, yesterday, it was decided to call a state convention at Worcester, Sept. 24. Gen. Butler will be invited to attend. Rear Admiral Harward. of the United States navy, died yesterday evening at Marion, Mass., aged 82 years. Gov. Cleveland arrived at Plattsburg, New York, yesterday, and was given a reception at the residence of Smith M. Weed, 4.000 people being present. Lieut. Greely and wife arrived at Montreal yesterday, and were accorded an enthusiastic welcome. It is reported that A. S. Warner, the absconding president of the Albion bank, committed suicide in Canada. The steamer Rose Standish, plying between Boston and Hingham, collide with a tug in Boston harbor yesterday and sunk. No person was injured. Fire at Ainsworth, W. T., yesterday destroyed the Northern Pacific sheds and the air compressor and pumps used in the construction of the Snake river bridge, valued at $50,000. The ninth annual reunion of the United States veteran signal corps was held yesterday at Crescent Beach, near Boston. The Democrats of the First Kansas congressional district yesterday nominated Thomas P. Fenton for congress. The Republicans of the Fourth Maryland congressional district, yesterday nominated W. J. Hooper, proprietor of the Baltimore Herald, for congress. In the Third district no nomination was made, and a ommittee was appointed to confer with dissatis0ed Democrats as to the advisability of supporting an independent candicate.

8. August 30, 1884 New-York Tribune New York, NY
Article from New-York Tribune, August 30, 1884

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MORE CHARGES AGAINST THE LADNERS. embezzlement AND OBTAINING MONEY UNDER FALSE PRETENCES AMONG THEM. PHILADELPHIA, Aug. 29.-More of the creditors of the suspended Arm of Ladner Brothers, bankers and brokers, obt dued warrants to-day for the arrest of the members of the Drm, charging them with embezzlement. In one suit Caleb 8. Ridkway swore out a warrant for the arrest of William T. and Louis J. Ladner, charg1ng them with the embezzlement of $3,200, and with obtaining the money by false and fraudulent pretences. Masistrate Lennon held William in $3,700 bail and committed Louis in default of $11,000 bail. The magistrate having received a certificate from Atlantic City, where William 18, that the latter 18 stok, he fixed the bail as stated for a hearing on Tuesday. In another case William H. Dohnert made affidavit, upon which a warrant was issued for the arrest of the members of the bankrupt firm. Mr. Dobnert alleges that during last year be deposited $16,000 with the Arm for investment 10 city sixes, and that during the current year he also deposited $51,000 with the firm for investment to various securities, making it total of $67,000. He never rΓ©ceived any return for bis money, and alleges that the members of the firm, Louis J. and William T. Ladner, appropriated the money to their own use. A warrant was issued for the arrest BC of the Messrs. Ladner and Constable Bough went to Atlantic City, where Willlam T. Ladner 18.

9. August 31, 1884 New-York Tribune New York, NY
Article from New-York Tribune, August 31, 1884

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HEAVY BAIL FOR THE LADNERS. philadelphia MAGISTRATES BUSY WITH THEIR AFFAIRS-THE LIABILITIES OF THE FIRM ABOUT $300,000. PHILADELPHIA, Aug. 30.-This morning and farinto the afternoon the magistrates in the neighbor hood of Fifth and Chestnut sta. were kept busy issuing warrants for the arrest of the Ladner Brothers, the suspended bankers, or in admitting William T. Ladner. the senior member of the firm, to bail. The latter was brought from Atlantic City last evening on a warrant issued by Magistrate Pole, charging the Ladner's with the embezzlement of $67,000 belonging to John P. Dohnert, which had been intrusted to them for the purchase of bonds and for safe keeping. Bail in $25000 was demanded for a further hearing to-day. This afternoon the accused had a hearing and gave ball in the sum of $20,000. Bail was also given in a large number of other cases, criminal and civil. There were fifteen cases at one magistrate's office alone, where the aggregate amount of the ball entered was $40,000. The entire amount of bail given so far exceeds $70,000. More warrants were issued in criminal cases to-day, and more civil suits were entered against the suspended firm. The assignee stated to-day that he had received no further information as to the coudition of the estate, but he felt sure that the liabilities would reach $300,000. He could at present #00 but Hitle, but hoped in a few days to be able to unravel the tangled condition of the broken bankers' affairs. Louis J. Ladner is still in custody, beingunable to furnish the required amount of bail. All day yesterday and to-day, in company with a constable, he endeavored to find some one who would be willing to go upon the numerous bonds forhim, but nothing but ill success rewarded his labors.

10. September 12, 1884 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, September 12, 1884

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# Bankers Arrested. PHILADELPHIA, Pa., September 12.-Telegrams received here say that both of the Ladner brothers, the suspended bankers, were arrested this morning. Louis J. at Hoboken, N. J. and William at Atlantic City.

11. September 13, 1884 The Daily Cairo Bulletin Cairo, IL
Article from The Daily Cairo Bulletin, September 13, 1884

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The Ladner Brothers Arrested. PHILADELPHIA, PA., September 12.- Both of the Ladner brothers, the sus- pended bankers, were arrested this morning, Louis J. at Hoboken and Wil- liam at Atlantic City.

12. September 13, 1884 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, September 13, 1884

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# Arrest of the Ladners. PHILADELPHIA, Sept. 12.-Both of the Ladne brothers, the suspended bankers, were arrested this morning. Louis J. at Hoboken and William at Atlantic City.

13. September 13, 1884 The Dallas Daily Herald Dallas, TX
Article from The Dallas Daily Herald, September 13, 1884

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Suspended Bankers Arrested. Philadelphia, Sept. 12.-Both of the Ladner Bros., the suspended bankers, were arrested this morning; Louis J. at Hoboken and William at Atlantic City.

14. September 13, 1884 St. Landry Democrat Opelousas, LA
Article from St. Landry Democrat, September 13, 1884

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TOPICS OF THE DAY. News from Everywhere. PERSONAL AND POLITICAL. DR. SALMON, chief of the Bureau of Animal industry, at Washington, has made his report relative to his investigation of pleuro-pneumonia among cattle in Illinois. i SAUL ROBERTS, until recently paymaster for large coal operators at Wilkesbarre, Pa., is reported short in his accounts from $50,000 to $75,000. He assigned all his property and the firm will not lose much. THE French Minister of Marine telegraphed Admiral Courbet the Government's satisfaction at the brilliant beginming of the campaign in China. IN a recent interview Oklahoma Payne declared he was anxious to be tried, and was under the impression that he had a legal right to locate a colony. ON the 27th the remains of the late J. A. McGahan, the famous war correspondent, arrived at Columbus, Ohio, from New York, and were received with military honors. Governor Hoadly was among the speakers at the ceremonies. IN order to stop the rumors that are afloat, Mr. Case declares that Jay-Eye-See sales JOJ Γ§ou SE GENERAL WOLSELEY has the utmost confidence in the success of the Nile expedition, and says that the difficulties of navigation presented by the Nile are not to be compared with those surmounted by the Red River expedition which he commanded during the rebellion in Manitoba. EX-CONGRESSMAN PHILLIPS, of Philadelphia, Pa., died on the 28th. THE expeditionary force for the relief of General Gordon will be increased to 7,000. VARRANTS were issued on the 28th for the arrest of the Ladner Bros., the Philadelphia bankers who failed recently. THE court has adjudged Wilbur F. Storey, owner of the Chicago Times, mentally incapable of attending to his affairs, and the Probate Court has appointed Austin L. Patterson, the present manager o: the paper, conservator of his estate. FERRY, Prime Minister of France, says that owing to Chinese treachery it has been impossible to treat her like a civilnation pezs IT is stated that the American Political Alliance will soon announce its candidates for President and Vice-President. THE Iowa Greenbackers held their State Convention at Des Moines on the 28th and declared for Butler. They urge fusion wherever it will benefit "the party." AT Weirs, N. H., General Sheridan briefly addressed his old comrades at the New Hampshire Veterans' Encampment on the 28th. There were 15,000 people present. ON the 29th Dr. Oliver Wendell Holmes celebrated his seventy-fifth birthday, at Boston, Mass. THE leading shorthorn stock raiser in the country, Abram Penick, died near Winchester, Ky., on the 29th, aged eightythree years. Ex-President John Sealy of the Gulf, Colorado & Santa Fe Railway, died suddenly at Galveston, Tex., on the 29th, of heart disease. MISS FRANCIS WILLARD makes the statement that 30J speakers are laboring for the prohibition amendment to be voted for in Maine September 8th. BEN BUTLER addressed the Grangers at Williams' Grove Pa., on the 29th, and told the farmers how to rear their children. The Greenbackers decided to make a vig orous campaign in the State. THE Pope has written an encyclical letfor directed against the action of the French Government in adopting the new B up eq IIIM 4I MAI Ρ„ΠΎΠ»ΠΎΠ΄Ρ€ 'sAep MeT ON the 9th Mrs. Henry Clews tendered President Arthur a dinner, to which the most noted people of Newport were invited. 4 IN the libel suit of Blaine vs. the Indianapolis Sentinel, the attorneys for Mr. Shoemaker entered appearance on the 29th to escape default. The next move that is in order is from Blaine's attorneys. ADDRESSES were delivered at the National Law and Order League Convention near Chicago on the 29th, by ministers and others in opposition toprohibition. Among the Vice-Presidents elected was Senator Vest, of Missouri. ASSISTANT POSTMASTER CAMP, of Boston, has been removed on account of irregularities disclosed by an investigation by the Department of his management of the Post-office at Atlanta, Ga., which he held for a time as an inspector. THE Republique Francaise warmly praises Admiral Courbet's astuteness in sending gunboats up the Min River the 18th of July, before hostilities began, thus enabling the gunboats to occupy a position on the blind side of the formidable forts on the bank of the river. A LETTER from General Gordon at Khar toum states that he is safe, and all at the garrison are well. SEXTON and Redmond, who came Rom Ireland to attend the Irish National League, sailed for Ireland on the 30th. A FORCE of five hundred secret police euo ou that 008 01 MBS.IBM 04 euod eAug *'blows up" the Czar when he arrives. IT is rumored that several of the Greely survivors have been secured by an enterprising owner of dime museums and will exhibited €q CHAS. A. BAKER of the Minnesota Inter nal Revenue service has been appointed teceiver of the Second National Bank of Livingston, Montana.